Hyundai Motor Reports 21% Drop in Q2 Operating Profit, Misses Analyst Forecasts
Hyundai Motor reported a 21% decline in second-quarter operating profit to 2.9 trillion won ($1.98 billion), missing analyst forecasts of 3.2 trillion won due to weaker vehicle sales and higher costs. Despite the drop, revenue rose by 2%. Hyundai shares were up 2% following the earnings announcement.